Axsome Therapeutics (NASDAQ:AXSM) Price Target Raised to $116.00 at Robert W. Baird

Axsome Therapeutics (NASDAQ:AXSM) had its target price hoisted by Robert W. Baird from $112.00 to $116.00 in a research report report published on Wednesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

AXSM has been the topic of a number of other reports. StockNews.com lowered shares of Axsome Therapeutics from a “hold” rating to a “sell” rating in a research report on Tuesday. UBS Group decreased their price target on Axsome Therapeutics from $107.00 to $105.00 and set a “buy” rating for the company in a research note on Tuesday, August 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Axsome Therapeutics in a research report on Tuesday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $107.00 target price on shares of Axsome Therapeutics in a research note on Monday, September 16th. Finally, Wells Fargo & Company initiated coverage on shares of Axsome Therapeutics in a research note on Tuesday, September 3rd. They set an “overweight” rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $124.93.

Axsome Therapeutics Stock Performance

Shares of NASDAQ:AXSM opened at $93.17 on Wednesday. The firm has a fifty day simple moving average of $90.66 and a two-hundred day simple moving average of $84.27. The company has a quick ratio of 2.40, a current ratio of 2.44 and a debt-to-equity ratio of 1.97. The stock has a market capitalization of $4.52 billion, a P/E ratio of -14.27 and a beta of 1.26. Axsome Therapeutics has a 52 week low of $56.66 and a 52 week high of $105.00.

Axsome Therapeutics (NASDAQ:AXSM) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($1.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.38) by $0.04. The business had revenue of $104.76 million for the quarter, compared to the consensus estimate of $98.71 million. Axsome Therapeutics had a negative return on equity of 158.36% and a negative net margin of 91.87%. During the same period in the prior year, the business posted ($1.32) earnings per share. On average, analysts expect that Axsome Therapeutics will post -5.04 earnings per share for the current fiscal year.

Insider Transactions at Axsome Therapeutics

In other Axsome Therapeutics news, Director Mark E. Saad sold 11,016 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $91.31, for a total transaction of $1,005,870.96. Following the completion of the sale, the director now directly owns 10,002 shares in the company, valued at approximately $913,282.62. The trade was a 52.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 22.40% of the company’s stock.

Institutional Investors Weigh In On Axsome Therapeutics

Large investors have recently modified their holdings of the business. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Axsome Therapeutics in the second quarter valued at approximately $27,000. EntryPoint Capital LLC acquired a new stake in Axsome Therapeutics during the first quarter worth about $35,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Axsome Therapeutics in the 2nd quarter valued at about $47,000. Russell Investments Group Ltd. increased its holdings in shares of Axsome Therapeutics by 5,550.0% during the 1st quarter. Russell Investments Group Ltd. now owns 791 shares of the company’s stock worth $63,000 after buying an additional 777 shares during the last quarter. Finally, Covestor Ltd raised its position in shares of Axsome Therapeutics by 54,750.0% during the 1st quarter. Covestor Ltd now owns 1,097 shares of the company’s stock valued at $88,000 after buying an additional 1,095 shares during the period. Hedge funds and other institutional investors own 81.49% of the company’s stock.

About Axsome Therapeutics

Axsome Therapeutics, Inc, a biopharmaceutical company, engages in the development of novel therapies for central nervous system (CNS) disorders in the United States. The company’s commercial product portfolio includes Auvelity (dextromethorphan-bupropion), a N-methyl-D-aspartate receptor antagonist with multimodal activity indicated for the treatment of major depressive disorder; and Sunosi (solriamfetol), a medication indicated to the treatment of excessive daytime sleepiness in patients with narcolepsy or obstructive sleep apnea.